Solar Panel Cost Guide in Nephi, UT (Sep 2022)
- Nephi Solar Installation Cost: $9,774
- 25-Year Savings: $16,403
- Payback Period: 9.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated 9/16/2022
Why you can trust EcoWatch
Average Cost of Solar Panels in Nephi
Here's how much it might cost to go solar in Nephi.
The national average cost of solar panels is $2.66 per watt, but in Nephi it's $3 per watt. The average solar panel system size in Nephi is around 5.2 kilowatts, meaning a cost of about $9,774 for a solar installation, or $7,233 after the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy needs, the type of solar system you want, your solar contractor and more. With average savings of about $19,000 on energy bills over 20 years, many homeowners in Nephi find investing in solar has a decent ROI.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Nephi
| Year | Return on Investment |
|---|---|
| 1 years | $-8,727 |
| 3 years | $-6,633 |
| 5 years | $-4,539 |
| 7 years | $-2,445 |
| 9 years | $-350 |
| 11 years | $1,744 |
| 13 years | $3,838 |
| 15 years | $5,932 |
| 17 years | $8,026 |
| 19 years | $10,120 |
| 21 years | $12,214 |
| 23 years | $14,308 |
| 25 years | $16,403 |
Top Solar Installers in Nephi
Although you can install solar panels yourself, it requires extra energy and knowledge. For that reason, most homeowners choose to hire a solar panel installer. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you'd like to switch to solar energy but still aren't sure which solar panel installer to go with, here are our suggestions for providers nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
See all of the solar companies in Nephi
Factors that Affect Solar Panel Costs in Nephi
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that will push your cost above or below the average in Nephi: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment Size
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend around $2,680 per kilowatt in Nephi. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Nephi, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Nephi homeowners decide to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also adds to your total costs, so it's important to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can affect the cost. Nephi's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and go with the company that offers the products, warranties and services you want and also is within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.79 | $11,706 | $18,427 | 9.7 years |
| 8 kW | $2.73 | $15,308 | $24,869 | 9.5 years |
| 10 kW | $2.68 | $18,760 | $31,462 | 9.3 years |
| 12 kW | $2.63 | $22,062 | $38,204 | 9.2 years |
| 14 kW | $2.57 | $25,213 | $45,097 | 9.0 years |
| 16 kW | $2.52 | $28,215 | $52,140 | 8.8 years |
| 18 kW | $2.47 | $31,067 | $59,332 | 8.6 years |
| 20 kW | $2.41 | $33,768 | $66,675 | 8.4 years |
Solar Incentives in Nephi
| Name | Renewable Energy Systems Tax Credit (Corporate) |
| Incentive Amount | Commercial wind, geothermal electric, and biomass systems 660 kW or greater, and solar PV systems 2 MW or greater: 0.35¢/kWh ($0.0035/kWh) for 4 years Other commercial technologies and commercial wind, geothermal electric, solar PV, and biomass systems smaller than 600 kW: 10% of installed cost Photovoltaic systems between 660 kW and 2 MW: May choose either 0.35¢/kWh ($0.0035/kWh) for 4 years or 10% of installed cost |
| Incentive Max | Residential: $2,000 Commercial Production Tax Credit: No limit Commercial Investment Tax Credit: $50,000 |
| Website | Visit here |
| More Info | Click here |
| Name | ITC |
| Type | Tax Incentive |
| Incentive Amount | 26% of installation cost |
| Website | Visit here |
| Name | Renewable Energy Systems Tax Credit (Personal) |
| Incentive Amount | Residential: 25% Commercial wind, geothermal electric, and biomass systems 660 kW or greater 0.35¢/kWh ($0.0035/kWh) for 4 years Other commercial technologies and commercial wind, geothermal electric, and biomass systems smaller than 660 kW: 10% of installed cost Solar photovoltaic systems 2 MW or greater: 0.35¢/kWh ($0.0035/kWh) for 4 years Solar photovoltaic systems smaller than 660 kW: 10% of installed costSolar photovoltaic systems between 660 kW and 2 MW: May choose either 0.35¢/kWh ($0.0035/kWh) for 4 years or 10% of installed cost |
| Incentive Max | Residential: $2,000 (phases down for PV systems beginning in 2018) Commercial Production Tax Credit: No limit Commercial Investment Tax Credit: $50,000 |
| Website | Visit here |
| More Info | Click here |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Contract: Before signing a contract with a solar company, make sure you look it over completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should secure and how long the project will take.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
EcoWatch's Nephi, UT Solar Cost FAQs
How much does it cost to install solar panels in Nephi?
The average cost of solar panels in Nephi is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Nephi?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
How much can I save on energy bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Nephi, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert’s opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.
